Mapletree Investments is continuing to offload industrial assets, with EQT Real Estate swooping in to acquire a portfolio for $241.2 million.
The pool of properties takes up a total of 2.4 million square feet of space. The assets were held under Mapletree's closed private fund US & EU Logistics Private Trust, which held $4.3 billion in total equity. The 10 properties acquired in the portfolio are located across Texas, Florida and Georgia.
The deal marks the second major industrial sale for Mapletree in the past month. In June, the New York-based firm said goodbye to its 1.8 million square foot shallow-bay warehouse portfolio for $328 million; the acquiring party was Faropoint. The 30 warehouses were located in states including Georgia, New Jersey, Florida, Texas and Pennsylvania.
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Despite the recent sales, the company, which manages 70 million square feet of industrial properties in the country, said it remains committed to the warehouse sector.
“This divestment represents a strong outcome for our investors and affirms the value we’ve created across our U.S. industrial portfolio,” Richard Prokup, U.S. CEO of Mapletree.
“As we look ahead, we remain focused on reinvesting in premier warehouse assets that align with our long-term growth strategy.”
For EQT Real Estate, this marks a new era for the group formerly known as EQT Exeter. Earlier this year, it announced it would primarily focus on industrial and logistics real estate while shifting away from investments in office, life sciences and multifamily. According to EQT, it operates more than 2,000 assets in total, comprising over 400 million square feet.
While industrial faces uncertainties over trade policy and broader economic conditions, Marcus & Millichap expects industrial space demand to continue to strengthen in the long term. So far, to start the year, deal flow has been stable, and the CRE firms predicts that investors will remain attracted to small-bay industrial assets and similar listings in the second half.
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Anthony Russo
Anthony Russo has been contributing to GlobeSt. since July 2024. Along with CRE, his financial background expands to capital markets, the economy, and consumer issues. Previously, he has written for CapitalWatch and was a senior reporter for The US Sun.
